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If we compare the assets of banks, then we can say, that the greatest bank is Bank of America.
Everyone have heard about Countrywide Financial - the trouble lender that took a loan of more then four billions american dollars, and finally became a reason for a mortgage crisis. Exactly the Bank of America financed this loan for Countrywide Financial.
As a result of this financial operation the bank of America became an owner of the greatest consumer bank all over United States. This transaction was very successful - on one hand Countrywide managed to continue its existance within the other institution, on the other hand Bank of America got more influence on foreclosure market.

Nowadays you can find Countrywide REO properties or Bank of America bank owned homes on many internet portals. Many sites provide foreclosure listings as paid serivice, but you can easily find wellknown web resources where foreclosed homes is totally free including REO homes, government foreclosures, HUD houses for sale, tax foreclousres, FHA foreclosures, VA foreclosures, and other types of foreclosure properties. You can visit some of them:
www.indexpost.com - free foreclosure listings and bank foreclosures database;
www.reodev.com - REO properties and foreclosed homes listings for free.

We have to underline, that this operation let the BofA have its own part in 25% of home loans in the America. This case is simply one example out of thousands of cases, when financial institution wins substantial advantages after financing problem loans. Such kind of loans are also known as subprime loans, of course this situation attracted a lot of attention, all owners of trouble loans were experiencing a number of investigations. Normally as a source of money for mortgages banks use the money saved on deposit accounts by clients. But Countrywide Financial works according the different scheme, it operates on Wall Street as a borrower, so it obtains amount of money enough to invest it in mortgages, and finally sell these home mortgages on mortgage market.

These transactions are repeated over and over, which enables the investors and borrowers get their profit. This cycle worked great until we faced the mortgage crisis. After becoming the owner of Countrywide Financial the Bank of America got under its control around 5800 branches located in 31 different states in US.

Also Bank of America unites 700 loan offices and 200 banking centres situated all over the United States of America.
Taking into consideration that a number of borrowers loose their homes at the end, this input of money is highly profitable transaction for Countrywide Financial executives.
The activity which BofA is planning to undertake now will enable around 260 thousand borrowers with problem loans save their real estate. It will happen after modifying more then 40 billion US dollars of mortgages. All this is planned to to be held during the following two years. A great amount of problem borrowers results into increase of Countrywide REO homes number.

Search for thousands of Countrywide REO and foreclosure homes nationwide.